Animoca Brands announced a $75 million funding round in its latest round.
Investors backed the digital entertainment, blockchain, and gamification firm at a subscription price of A$4.50 per share for a total of 23,237,058 new shares, according to the fundraising details. Following this increase, the company now has 1,836,142,334 fully paid ordinary shares on the market.
This funding round values Animoca Brands at $5.9 billion pre-money, with high-profile investors such as Liberty City Ventures, Kingsway Capital, Alpha Wave Ventures, 10T, SG Spring Limited Partnership Fund, Generation Highway Ltd, Cosmic Summit Investments Limited, and others participating.
The funding round builds on the $358 million boosts the company received in January, when its valuation was still set at $5 billion.
“Digital property rights represent a society-defining generational shift that affects everyone online and will pave the way for the emergence of the open metaverse,” said Yat Siu, co-founder and executive chairman of Animoca Brands. “We are deeply honoured to continue to enjoy strong investor support as we work to solidify Animoca Brands' leadership position in the Web3 industry and in the field of true digital ownership.”
Animoca Brands, known for its support of some of the most popular Web3.0 gaming protocols, such as Axie Infinity and The Sandbox, stated that it is still leading and innovating decentralized in-game rewards and monetization in video games for the emerging open metaverse.
According to the company, the new capital will be used to “continue to fund strategic acquisitions, investments, and product development, secure licenses for popular intellectual properties, and advance the open metaverse, including through its efforts to promote digital property rights for online users.”
More funds are trickling into the digital currency ecosystem as investors align with startups touting the model that can guarantee a massive inflow of new users.
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